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BSP Alotau focuses on banking education

Friday, August 6, 2021

Financial Literacy or Banking Education has become the focus of BSP Alotau Branch - giving people and customers a better understanding of why banking services exist and how they benefit people.

Milne Bay Province’s BSP Alotau Branch was established 38 years ago.  It is assisted by two sub branches - one located on Padipadi Estate in the Suau District and Losuia in the Trobriand Islands. Together they service the province’s four districts. 

BSP Alotau Branch Manager Martin Gilo said that BSP has been working alongside the provincial government, visiting parts of the province to conduct product and service awareness while at the same conducting Financial Literacy Training (FLT).

BSP has dedicated branch teams who carry out banking education or financial literacy trainings in the communities before assisting customers open accounts and BSP Alotau is no different. 

“Financial Literacy Training is the way forward in order for us to achieve our strategic goals. Our Banking Education team must run the FLT program to give our people a better understanding of why banking services exist and how it can benefit our people now and in the long run.

More than 8,000 participants have benefited from banking education in the province since its inception in 2015. A program that focuses on saving, budgeting and eventually lead to Business Development Skills.

As part of BSP’s ongoing obligation toward the community where it operates, BSP Alotau last year delivered  medical equipment to Alotau Urban Clinic and a hand washing station each to Koeabule Primary School and Raven Recreation area.

“Due to Covid-19, many public places such as hospitals and health clinics have adopted hand washing as a compulsory activity. The hand washing stations have helped reduced the spread of many other diseases as well. This year, BSP Alotau is working on refurbishing a Multipurpose Court at Goilanai Primary School,” Mr Gilo added.

BSP Group General Manager Daniel Faunt said despite security issues in the province in recent times, BSP Alotau Branch continues to serve Milne Bay’s four districts and 16 LLGs.  Population of the province is scattered across the vast and remote islands where access to basic banking services and other government service is very minimal.

“We are also assisted by 3 BSP Cash Agents located both on the islands and the mainland, three ATMs and 278 active EFTPoS merchants.  We’ve delivered 12 Community Projects since 2009 totalling to K275,000 to date and will continue on the years to come. It’s our way of giving back to the people of Milne Bay Province,” Mr Faunt added.